This rate is for the financial year 2024-25. This will benefit 7 crore EPFO ​​​​members. If you have Rs 2 lakh deposited in your PF account, then you will get an interest of Rs 16,500. Earlier on February 28, the Employees’ Provident Fund Organization (EPFO) had decided to retain the interest rate of 8.25 percent on EPF deposits for the financial year 2024-25.

Last time, the interest on PF was increased to 8.25 percent. Earlier, in 2022-23, PF subscribers were given 8.15 percent interest. This time it has been decided to keep it at 8.25 percent.

What is the interest rate on PF in the last 9 years?

• 8.25 percent in the financial year 2024-25
• 8.25 percent in the financial year 2023-24
• 8.15 percent in the financial year 2022-23 8.10
• percent in the financial year 2021-22
• 8.50 percent in the
• financial year 2020-21 8.50 percent in the financial year 2019-20 8.65 percent
• in the financial year 2018-19
• 8.55 percent in the financial year 2017-18
• 8.65 percent in the financial year 2016-17

How to check PF balance

You can easily check your PF (Provident Fund) balance in any of the following ways-

1. Through the UMANG app

• Register and log in to the Umang app.
• Select EPFO ​​services.
• Select the View Passbook option.
• Enter your UAN number and OTP.
• Your account balance will be shown.

2. From EPFO ​​website

• Visit the EPFO ​​website https://www.epfindia.gov.in .
• Click on Services → For Employees → Member Passbook.
• Login with UAN and password.
• Check your balance in your passbook.

3. Through SMS

you have to send this message from your UAN registered mobile number to 7738299899 – EPFOHO UAN HIN

Let us tell you that HIN stands for Hindi (language code, like ENG – English, TAM – Tamil etc.). In response, you will receive an SMS about your PF balance.

The post EPFO Interest Rate: Govt fixes interest rate on PF, how much will 7 crore customers benefit? Check this way first appeared on Rightsofemployees.com.

RBI has asked banks to trace the customers or their nominees or legal heirs of accounts with inoperative accounts and unclaimed deposits and either reactivate the account or settle the claim. The bank has also said that such accounts should be reviewed at regular intervals, because there is a risk of fraud in such accounts. These new rules will come into effect from April 1, 2024.

How will customers benefit?

Reserve Bank has issued a new rule on non-operative or closed bank accounts, let us know how this can benefit the customers.

According to RBI guidelines, banks will always have to keep paying interest on inactive savings accounts.

– Minimum balance penalty will not be imposed on inactive bank accounts.

Even if there is zero balance in government scheme accounts, they will not be considered inactive.

RBI gave instructions to banks

– Owners of inactive accounts should be found by sending e-mail, SMS.

– KYC should be easy, the account should be started again as soon as KYC is done in the inactive account.

The bank should not charge the customer for re-opening the account.

The bank will have to activate the accounts within three days of receiving the application.

– Alert should be sent to the customers that if the transaction is not done then the account will be deactivated.

– After re-activation of inactive accounts, they should be monitored for 6 months.

– Banks will put a system for searching unclaimed deposits on their website.

– Banks will not be able to withdraw money from inactive savings accounts.

– Information about inactive accounts and unclaimed deposits will have to be kept safe.

Let us tell you that there is a rule that in any bank, in any deposit account in which no operation has been done for 10 years or more, or there is unclaimed deposit lying in the account for this period of 10 years or more, then this deposit The bank should send it to the Depositor Education and Awareness Fund, which is run by RBI.

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